711,852
Yes. And the best way and most cost effective way of developing leads is to nurture your past clients and friends.
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Peter Mohylsky, Beach ...
Miramar Beach, FL
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Doug Dawes
Topsfield, MA
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Kathleen Daniels, Prob...
San Jose, CA
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Karen Climer
Orlando, FL
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Joan Cox
Denver, CO
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Brenda Mayette
Glenville, NY
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Shayne Stone
Fulshear, TX
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John Pusa
Glendale, CA
3,345,091
Please tell your friend that I have no insight into what others do in the real estate industry in terms of lead acquisition and/or lead conversion.
I know how I spend my time. It works for me.
All the best to you and your friend.
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The Villages Realty
San Jose, CA
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Gary Frimann, CRS, GRI...
Gilroy, CA
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Doug Dawes
Topsfield, MA
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Shayne Stone
Fulshear, TX
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John Pusa
Glendale, CA
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Kathleen Daniels, Prob...
San Jose, CA
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Greg Large
Grove City, OH
851,242
Great question! I think our industry puts enough emphasis on the conversion BUT the offer of lead acquisition is typically noisier & shinier and can get more attention if one isn't careful.
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Peter Mohylsky, Beach ...
Miramar Beach, FL
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Doug Dawes
Topsfield, MA
-
Kathleen Daniels, Prob...
San Jose, CA
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Karen Climer
Orlando, FL
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Joan Cox
Denver, CO
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Shayne Stone
Fulshear, TX
584,631
I guess they don't teach the old adage of salesmanship!
Like in marketing to get 1-Lead, you need to reach 100-people, out of the 100, 99-will say no (1-of the 99 will be an AssHole), but 1-will say YES.
And that's just to get the appointment... LOL
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Doug Dawes
Topsfield, MA
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Candice A. Donofrio
Fort Mohave, AZ
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Kathleen Daniels, Prob...
San Jose, CA
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Joan Cox
Denver, CO
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John Pusa
Glendale, CA
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Shayne Stone
Fulshear, TX
3,587,960
Which friend this time!! I have no idea. I have always worked on our A list and referrals and paid attention to our business not what others were doing about leads or conversion.
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Doug Dawes
Topsfield, MA
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Candice A. Donofrio
Fort Mohave, AZ
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Kathleen Daniels, Prob...
San Jose, CA
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Shayne Stone
Fulshear, TX
2,241,478
I think inventory... something to sell is number one in my rural Maine market. We list, sell 85% of properties we know backwards and forwards. Less drama, no delay and no leads to buy if your market the properties full throttle. Organically through blogs, videos, you develop your pipeline to weed, feed and water Peter Mohylsky. Broker -BRIX REALTY !
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Candice A. Donofrio
Fort Mohave, AZ
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Brenda Mayette
Glenville, NY
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Shayne Stone
Fulshear, TX
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John Pusa
Glendale, CA
1,196,798
It's like fishing the key is knowing what to do when you get one on the hook.
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John Pusa
Glendale, CA
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Shayne Stone
Fulshear, TX
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Joan Cox
Denver, CO
195,422
I think most agents what to believe that they would make more money if they had more leads. For some agents this is true. They are converting nearly 100% of their leads.
Other agents have enough leads, they just can't convert them. But for an agent to admit that, they have to admit that their sales skills suck. Another agent with better conversion skills will convert them.
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Shayne Stone
Fulshear, TX
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Doug Dawes
Topsfield, MA
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Karen Climer
Orlando, FL
901,535
Yes. Many agents do. Only a small percentage convert leads at a high level. Also, leads are being sold to multiple agents through multiple sources.
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Shayne Stone
Fulshear, TX
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Doug Dawes
Topsfield, MA
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Karen Climer
Orlando, FL
5,216,409
It's the old question of quality versus quantity. Some want to play with big numbers and settle for small results. Some will proceed with small numbers for large quality. Choose what works for you. In the end it is the results that count, either way.
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Doug Dawes
Topsfield, MA
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Kathleen Daniels, Prob...
San Jose, CA
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Shayne Stone
Fulshear, TX
6,393,609
I am sure that some do, others improve their skills and systems to convert at a higher level.
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Doug Dawes
Topsfield, MA
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Shayne Stone
Fulshear, TX
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John Pusa
Glendale, CA
1,076,551
yes and no - a lot of conversion comes from experience. Overcoming objections, creatively thinking & problem solving, learning to build trust and fine tune your sales skill set. So for newer hires, it's way more of a numbers game and quantity may be truly more important than quality. As we progress in our careers, fine tuning the conversion becomes more important.
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Doug Dawes
Topsfield, MA
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Shayne Stone
Fulshear, TX
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John Pusa
Glendale, CA
1,556,633
I would say it does. Just my opinion.
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The Villages Realty
San Jose, CA
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Peter Mohylsky, Beach ...
Miramar Beach, FL
1,052,211
YUP! Leads are not closings.
Best to build a business where you are dealing with familiar or known people, and treat leads as nothing until they are something.
I see (esp new) agents chasing cotton candy ALL the time.
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Shayne Stone
Fulshear, TX
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Doug Dawes
Topsfield, MA
5,868,554
Most of the prospecting time should be with your repeat clients, then spend time on acquiring new leads.
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Shayne Stone
Fulshear, TX
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Doug Dawes
Topsfield, MA
2,781,173
Our industry is a money driven one making the end result about gain. It is the same principal that dark forces use to tempt with. The "what's in it for me" runs rampant. Meanwhile, there are clients' needs that come first. We all would be wise to remember the first rule of marketing, sales & repeat business i.e., "people buy from people first, then the product". Saying that, one must improve the self, even perfect it, and all else comes into line
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Shayne Stone
Fulshear, TX
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Doug Dawes
Topsfield, MA
921,504
Add the total of all marketing an agent spends for a year which includes lead acquisition, ($20,000) divided that number by the number of completed closings (10) and compare that number to the average compensation. ($20,000)
How much should an agent spend to PROFIT $15,000 to $30,000? Spending $2,000 per transaction to make $20,000 does not require rocket science.
The burn rate goes down as the agent becomes more proficient in cultivation, targeting and conversion.
Of course, one would want to apply their own reality to expand those numbers to the 100x to derive a projected lead acquisition cost. How many GROSS leads to create conversions that result in a successful closing? At $50 a lead, how successful would an agent be standing on Main Steet if a fist full of bills announcing. "Let's talk real estate!"
Regarding your question, I think TOO MUCH TIME is spend training agents of subject manipulation. But it ALL STARTS with the LEAD. One can be the best farmer on the planet but without seeds, the crop will be imaginary.
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Doug Dawes
Topsfield, MA
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Shayne Stone
Fulshear, TX
4,160,899
Hello Peter Mohylsky. Broker -BRIX REALTY probably, but it depends on the market area and the broker.
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Doug Dawes
Topsfield, MA
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Shayne Stone
Fulshear, TX
1,844,301
I'll agree with your statement.
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Peter Mohylsky, Beach ...
Miramar Beach, FL
763,883
3,164,294